ARCHIVED BLOG POSTS

2007

One of my favorite little secrets for A paper and Alt-A has been SCME. As of 16 minutes ago... Per the notice on their website that just went up now: It has been a wonderful 24 years. Thank you! As you are aware, the liquidity crisis in the mortgage lending industry has adversely impacted ne...

We've all heard the cliche, "Location, Location, Location". My Uncle Sal, the one who has never owned a thing in his life, would say "It's all about Location". Every buyer knows the phrase. I even know of a real estate agent who has a discreet tattoo proclaiming those three words. How cool i...

I started this series by explaining the basics of one of the most popular reverse mortgages in the country, the HECM or Home Equity Conversion Mortgage. It does have certain advantages and disadvantages. The most popular advantage has to be that it's insured by the FHA. However it was prob...

For my 200th Post, I thought it would be nice to discuss clouds. "Partly Cloudy", said my local weather person this morning. Partly Cloudy is good thing if you are laying back after a picnic with your sweetheart on a summer day. Partly cloudy is almost always a good thing. Almost. Any sentence...

Understanding the "Home Keeper" While the headlines today are filled with Bernanke and Paulson and the talk about GSE limits, Discount Rates, Foreclosure Activity and who knows what else I wanted to shine the light on something that might sound like an answer to todays mortgage meltdown woes. I...

I mentioned on an earlier post that HECM loans were rising. Not the rate, but the popularity or sheer quantity of loans being funded. That prompted a reader to call me to help explain what a HECM was. So what is a HECM loan? The Home Equity Conversion Mortgage (HECM) is the oldest reverse ...

I recently wrote about perhaps"The Best First Time Buyer Program in California". It's just one of the 100% financing options I have in the toolbox. Amazingly this was the first that many agents had heard of it. I received calls from Agents and Buyers, and even other Loan Officers inquiring ab...

The San Jose Mercury News sent me a snippet via email entitled... The Next Big Bargain A record number of homeowners are in foreclosure, according to data compiled from April to June by the Mortgage Bankers Association. The problem is caused by subprime mortgages in California, Florida, Nevada an...

Part of what I do is educate clients and readers. The topics range from topical news stories to mortgage planning strategies, to warnings of potential scams and frauds. This last month had the liquidity crisis on the front pages. So naturally, I spent a good deal explaining how lenders sell ...

Here's an interesting twist. Yesterday I wrote about what might very well be the very best First Time Buyers Program in California. I got a call almost immediately from a reader who was a first time buyer and was looking at buying a short sale property in bay area. Buying a short sale is an exe...

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